Berkshire Hathaway (BRK.B) Stock Falls in After-Hours Trading After Earnings Report

Berkshire Hathaway (BRK.B) shares are lower after hours after the company reported its third quarter financial results.
By Lindsay Ingram ,

NEW YORK (TheStreet) -- Shares of Berkshire Hathaway (BRK.B) - Get Report were falling 0.6% to $135.52 after-hours on Friday after the conglomerate reported its third quarter earnings.

Berkshire Hathaway reported earnings of $2,769.18 a Class A share, compared to analysts' estimates of $2,720.60 a Class A share for the quarter. Revenue grew 15% year over year to $58.99 billion, below analysts' estimates of $61.19 billion.

The company said its net income doubled to a record $8.43 billion in the quarter due to its holding of Kraft Heinz (KHC), according to the Wall Street Journal. The conglomerate purchased Heinz in 2013 for $28 billion.

Insurance-investment income grew 3.6% to $840 million in the quarter, while insurance-underwriting revenue fell 34% to $414 million.

Berkshire Hathaway's book value rose 3.3% to $151,083 a share in the first nine months of 2015, a 7.1% increase from the first nine months of 2014.

TheStreet Ratings team rates BERKSHIRE HATHAWAY as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

We rate BERKSHIRE HATHAWAY (BRK.B) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins.

You can view the full analysis from the report here: BRK.B

BRK.B data by YCharts

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

Loading ...